Lawyers

Crowell and Herrick Explore Merger Option
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Crowell & Moring

Summary: Crowell & Moring and Herrick Feinstein have entered into discussions about merging the two firms into a larger Am Law 100 firm.

Crowell & Moring is currently in close merger discussions with Herrick Feinstein with a term sheet close to being signed. The Washington-based Crowell, which is roughly three times as large as Herrick, is known for work in government contracting. Herrick, a midsized New York-based firm, has a strong presence in the real estate, art, and sports law litigation practices.

  
What
Where


A merger is unlikely to come this this year with the talks still in the preliminary stages for the past few months. Should they join forces, the new firm would have around 570 lawyers and $478 million in gross revenue. Crowell is currently ranked 88th in the Am Law 100 firms but a merger with Herrick would allow them to jump up about 20 spots.

Crowell has 440 lawyers and $363 million in revenue last year. Herrick is an Am Law 200 firm with 132 lawyers and $115.5 million in revenue.

If the firms should merge, it would be another example of larger firms merging with smaller firms in order to minimize costs and meet demand. Washington D.C. Arnold & Porter announced their merger with Kaye Scholer, a prominent but smaller firm in New York.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Crowell has been looking for several years to find a good fit for them to merge with. They initially were discussing the potential for a merge with the much smaller firm Satterlee Stephens last year. Herrick has been approached before but never taken the bite until now. They have the New York presence that many large firms are eager to have.

Herrick has also taken a strict approach to their finances after they dropped in 2013 and 2014. They are subletting a floor in a Manhattan office, consolidated their New Jersey offices, and eliminated nonessential staff through attrition. Their revenue jumped by 9.5 percent last year in part because of these efforts.



How do you think Crowell and Herrick merging will affect the market? Tell us in the comments below.

To learn more about other law firms that have announced or completed merges recently, read these articles:

Photo: wikipedia.org



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Litigation Trial Attorney with 3-5 years of pleading experience

USA-WA-Seattle

Seattle office of our client seeks litigation trial attorney with 3-5 years of experience. The candi...

Apply Now

Corporate Attorney with mergers and acquisitions experience

USA-CA-Los Angeles

Los Angeles office is seeking a corporate attorney with 1-6 years of M&A, corporate finance, securit...

Apply Now

Estate Planning Attorney with 6+ years of experience

USA-CA-Los Angeles

Los Angeles office is seeking an experienced estate planning attorney with 6+ years of experience. C...

Apply Now

Litigation Associate Attorney

USA-CA-San Diego

San Diego office of our client seeks litigation associate attorney with 4-5 years of experience. The...

Apply Now

RELEVANT JOBS

ASSOCIATE ATTORNEY

USA-TX-Houston

INSURANCE DEFENSE / TRANSPORTATION LITIGATION Law firm located in North Houston seeking an associ...

Apply now

Legal- Disbursal Manager

USA-NV-Las Vegas

Prestigious Personal Injury Law Firm seeks Disbursal Manager Qualified individuals need to have p...

Apply now

Legal- Disbursal Manager

USA-NV-Las Vegas

Prestigious Personal Injury Law Firm seeks Disbursal Manager Qualified individuals need to have p...

Apply now

Litigation Associate

USA-LA-Shreveport

A well-established AV rated defense firm seeking an experienced associate with 1-5 yrs experien...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top